Elon Musk, the founder and chief executive officer of leading electric vehicle manufacturer Tesla Inc. (TSLA) has exercised all of his stock options due expiry next year. This comes as an indication that the billionaire has ended his stock sales which he initiated not long ago so as to pay his taxes for the year.
Last week, Musk posted a tweet suggesting that he will reach his target of selling around 10% of his stake in Tesla when the 10b preprogrammed sales complete. This was clearly making reference to his options-related stock sales.
According to regulatory filings, Musk exercised options on 1.6 million shares on December 28 bringing the cumulative stock options he has exercised to 22.8 million shares which are due to expire in August.
Additionally, the fillings show that he has also sold shares worth $1.02 billion to pay taxes. “This rule 10b5-1 trading plan was completed on December 28, 2021,” said the company in its Dec 28 filing.
